SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 12, 2003
CIT Equipment Collateral 2000-2
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or other jurisdiction of incorporation)
333-74847 52-7109880
(Commission File Number) (IRS Employer Identification No.)
c/o Chase Manhattan Bank USA, National Association
1201 North Market Street
Wilmington, Delaware 19801
(Address of principal executive offices and zip code)
Registrants' telephone number, including area code: (302) 428-3372
N/A
(Former name or former address, if changed since last report)
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
----------------------------------
(c). Exhibits.
The following are filed herewith. The exhibit numbers
correspond with items 601(b) of Regulation S-K.
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.1 Pool Data Report
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CIT EQUIPMENT COLLATERAL 2000-2
By: Capita Corporation, as Servicer
By: /s/ Barbara Callahan
-------------------------------
Name: Barbara Callahan
Title: Vice President
Dated: September 12, 2003
Exhibit 99.1 - Pool Data Report
CIT EQUIPMENT COLLATERAL 2000-2
GENERAL COMPOSITION
AT JUNE 30, 2003
WEIGHTED WEIGHTED AVERAGE
CURRENT AVERAGE AVERAGE REQUIRED
NUMBER REQUIRED ORIGINAL REMAINING PAYOFF
OF PAYOFF TERM TERM AMOUNT
CONTRACTS AMOUNT (RANGE) (RANGE) (RANGE)
----------------- -------------------- --------------- ----------------- ---------------
25,499 $ 144,098,740 68.3 months 29.9 months $5,651
(23 to 121 months) (0 to 90 months) ($0 to $992,540)
TYPE OF CONTRACT
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
TYPE OF CONTRACT CONTRACTS CONTRACTS AMOUNT AMOUNT
- -------------------------------- --------------- --------------- --------------- -------------
True Leases 18,733 73.47% $ 73,560,007 51.05%
Finance Leases 6,531 25.61 44,382,137 30.80
Loans and other financing arrangements 235 0.92 26,156,595 18.15
-----------------------------------------------------------------------
Total 25,499 100.00% $ 144,098,740 100.00%
=======================================================================
CIT EQUIPMENT COLLATERAL 2000-2
GEOGRAPHICAL DISTRIBUTION
(BASED ON OBLIGOR BILLING ADDRESS)
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
STATE CONTRACTS CONTRACTS AMOUNT AMOUNT
- -------------------------------- --------------- --------------- --------------- ------------
Alabama 275 1.08% $ 1,073,698 0.75%
Alaska 53 0.21 142,276 0.10
Arizona 293 1.15 2,400,433 1.67
Arkansas 131 0.51 794,754 0.55
California 3,121 12.24 20,697,282 14.36
Colorado 470 1.84 2,567,507 1.78
Connecticut 453 1.78 2,114,369 1.47
Delaware 171 0.67 245,614 0.17
District of Columbia 204 0.80 1,204,336 0.84
Florida 1,586 6.22 9,692,298 6.73
Georgia 759 2.98 5,011,717 3.48
Hawaii 20 0.08 23,720 0.02
Idaho 90 0.35 558,743 0.39
Illinois 343 1.35 3,049,588 2.12
Indiana 331 1.30 2,406,654 1.67
Iowa 88 0.35 386,189 0.27
Kansas 136 0.53 1,417,381 0.98
Kentucky 190 0.75 773,858 0.54
Louisiana 170 0.67 615,348 0.43
Maine 15 0.06 55,980 0.04
Maryland 607 2.38 2,332,844 1.62
Massachusetts 1,070 4.20 5,611,008 3.89
Michigan 1,090 4.27 6,377,310 4.43
Minnesota 352 1.38 1,660,806 1.15
Mississippi 114 0.45 680,063 0.47
Missouri 300 1.18 2,110,040 1.46
Montana 64 0.25 478,611 0.33
Nebraska 92 0.36 455,507 0.32
Nevada 138 0.54 619,060 0.43
New Hampshire 168 0.66 811,939 0.56
New Jersey 1,751 6.87 11,520,327 7.99
New Mexico 127 0.50 424,633 0.29
New York 2,769 10.86 13,371,460 9.28
North Carolina 594 2.33 3,440,371 2.39
North Dakota 16 0.06 98,964 0.07
Ohio 796 3.12 3,108,403 2.16
Oklahoma 213 0.84 850,924 0.59
Oregon 257 1.01 3,760,506 2.61
Pennsylvania 1,507 5.91 5,771,063 4.00
Rhode Island 114 0.45 455,093 0.32
South Carolina 238 0.93 2,129,826 1.48
South Dakota 26 0.10 167,687 0.12
Tennessee 426 1.67 1,212,968 0.84
Texas 1,961 7.69 9,655,109 6.70
Utah 207 0.81 1,272,406 0.88
Vermont 66 0.26 151,910 0.11
Virginia 667 2.62 5,190,167 3.60
Washington 464 1.82 3,166,915 2.20
West Virginia 94 0.37 359,655 0.25
Wisconsin 276 1.08 1,558,671 1.08
Wyoming 36 0.14 62,750 0.04
------------- ------------ ---------------- ------------
Total 25,499 100.00% $144,098,740 100.00%
============= ============ ================ ============
CIT EQUIPMENT COLLATERAL 2000-2
PAYMENT STATUS
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
DAYS DELINQUENT CONTRACTS CONTRACTS AMOUNT AMOUNT
- ------------------------------------ -------------- ------------- -------------- ------------
Current, including 1 to 30 day
delinquent contracts 23,246 91.16% $ 137,980,963 95.75%
31-60 days delinquent 1,082 4.24 2,775,527 1.93
61-90 days delinquent 557 2.18 1,642,680 1.14
91-120 days delinquent 292 1.15 741,886 0.51
Over 120 days delinquent 322 1.26 957,684 0.66
------------- ----------- ----------------- -----------
Total $ 25,499 100.00% $ 144,098,740 100.00%
============= =========== ================= ===========
TYPE OF EQUIPMENT
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
TYPES OF EQUIPMENT CONTRACTS CONTRACTS AMOUNT AMOUNT
- ------------------------------------ -------------- ------------- -------------- ------------
Telecommunications 8,653 33.93% $ 72,829,781 50.54%
Medical/Healthcare 124 0.49 26,861,364 18.64
Computer & Point-of Sale 12,463 48.88 11,422,543 7.93
Automotive Diagnostic Equipment 1,932 7.58 10,943,024 7.59
General Office Equipment/Copiers 1,469 5.76 7,511,845 5.21
Construction 130 0.51 3,932,341 2.73
Manufacturing 217 0.85 3,322,237 2.31
Other (1) 273 1.07 2,868,702 1.99
Printing 46 0.18 1,642,670 1.14
Transportation 38 0.15 1,057,789 0.73
Computer Software 52 0.20 991,224 0.69
Commercial/Retail Fixtures 102 0.40 715,219 0.50
------------- ------------ ---------------- -----------
Total $ 25,499 100.00% $ 144,098,740 100.00%
============= ============ ================ ===========
(1) Includes $377,348 as the largest and $10,508 as the average Required Payoff Amount
CIT EQUIPMENT COLLATERAL 2000-2
REQUIRED PAYOFF AMOUNT
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
REQUIRED PAYOFF AMOUNT CONTRACTS CONTRACTS AMOUNT AMOUNT
- ------------------------------------ -------------- ------------- -------------- ------------
0 - 5,000.00 20,650 80.98% $ 23,433,886 16.26%
5,000.01 - 10,000.00 2,447 9.60 16,956,415 11.77
10,000.01 - 15,000.00 869 3.41 10,580,004 7.34
15,000.01 - 25,000.00 701 2.75 13,532,190 9.39
25,000.01 - 50,000.00 434 1.70 14,909,860 10.35
50,000.01 - 100,000.00 199 0.78 13,874,488 9.63
100,000.01 - 150,000.00 73 0.29 9,052,656 6.28
150,000.01 - 250,000.00 65 0.25 12,667,598 8.79
250,000.01 - 500,000.00 39 0.15 13,302,388 9.23
500,000.01 - 1,000,000.00 (1) 22 0.09 15,789,255 10.96
----------- ---------- ---------------- ---------
Total 25,499 100.00% $ 144,098,740 100.00%
=========== ========== ================ =========
(1) Includes $992,540 as the largest Required Payoff Amount.
REMAINING TERM
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
REMAINING TERMS OF CONTRACT CONTRACTS CONTRACTS AMOUNT AMOUNT
- ------------------------------------ -------------- ------------- -------------- ------------
(MONTHS)
0- 12 14,250 55.88% $ 13,797,353 9.57%
13- 24 9,151 35.89 74,062,671 51.40
25- 36 1,970 7.73 26,951,062 18.70
37- 48 47 0.18 5,272,038 3.66
49- 60 16 0.06 2,056,102 1.43
73- 84 55 0.22 17,186,937 11.93
85- 93 10 0.04 4,772,577 3.31
----------- ---------- -------------- ---------
Total
25,499 100.00% $ 144,098,740 100.00%
=========== ========== ============== =========
CIT EQUIPMENT COLLATERAL 2000-2
TYPES OF OBLIGOR
AT JUNE 30, 2003
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OF OF PAYOFF PAYOFF
TYPE OF OBLIGOR CONTRACTS CONTRACTS AMOUNT AMOUNT
- ------------------------------------ -------------- ------------- -------------- ------------
Service Organizations(1) 10,561 41.42% $ 52,125,218 36.17%
Medical/Healthcare 1,286 5.04 34,401,944 23.87
Retail & Wholesale 3,337 13.09 17,890,892 12.42
Manufacturing 2,312 9.07 15,934,657 11.06
Financial Services 1,661 6.51 7,334,201 5.09
Transportation 808 3.17 7,256,488 5.04
Other(2) 4,166 16.34 4,546,545 3.16
Construction 837 3.28 2,078,219 1.44
Printing & Copy Centers 241 0.95 1,143,938 0.79
Resources 194 0.76 770,053 0.53
Government 78 0.31 493,044 0.34
Machine Tools 18 0.07 123,540 0.09
---------- --------- -------------- ---------
Total 25,499 100.00% $ 144,098,740 100.00%
========== ========= ============== =========
(1) Primarily Business Services (52%); Other Service Organizations (15%); Engineering, Accounting & Research (10%); Legal Services
(5%); and Membership Organizations (5%).
(2) Includes $377,348 as the largest Required Payoff Amount belonging to a single obligor
As shown in the table above, the servicer's records lists 3.16% of the total required payoff amount in the category of "Other"
types of obligor. The servicer notes that the collateral securing approximately 1.33% of the required payoff amount represents small
ticket computer equipment typically leased to small businesses. The remaining "Other" obligor category represents approximately
1.83% of the required payoff amount. The depositor has not analyzed this category to determine whether or not the contracts included
in it could be grouped into some other more specific type of obligor category.
OBLIGOR CONCENTRATION
% OF
TOTAL % OF
NUMBER NUMBER REQUIRED REQUIRED
OBLIGORS (INCLUDING CONTRACTS SECURING OF OF PAYOFF PAYOFF
VENDOR LOANS) CONTRACTS CONTRACTS AMOUNT AMOUNT
- ------------------------------------------- -------------- ------------- -------------- ------------
Top 5 149 0.58% $ 6,094,123 4.23%
The Top 5 obligors conduct business in the Retail & Wholesale Trade, Medical/Healthcare and Service Organizations industries.
CIT EQUIPMENT COLLATERAL 2000-2
SCHEDULED PAYMENT
AT JUNE 30, 2003
COLLECTION SCHEDULED COLLECTION SCHEDULED
PERIOD CASHFLOWS PERIOD CASHFLOWS
- ------------------------------ ------------------- ------------------------- ----------------------
Positive Rent Due 3,437,242.70
July-2003 8,803,700.06 April-2007 458,250.69
August-2003 8,673,327.32 May-2007 431,838.83
September-2003 7,554,744.33 June-2007 423,354.24
October-2003 7,046,991.75 July-2007 425,290.19
November-2003 6,849,687.79 August-2007 362,174.53
December-2003 6,888,488.09 September-2007 394,963.21
January-2004 6,838,449.00 October-2007 343,832.75
February-2004 6,656,483.19 November-2007 343,832.75
March-2004 6,614,503.03 December-2007 343,832.75
April-2004 6,676,339.65 January-2008 343,832.75
May-2004 6,444,909.52 February-2008 343,832.75
June-2004 6,306,225.95 March-2008 343,832.75
July-2004 6,288,507.05 April-2008 343,833.75
August-2004 5,839,766.97 May-2008 340,878.15
September-2004 4,997,300.21 June-2008 340,878.15
October-2004 4,271,240.37 July-2008 340,878.15
November-2004 3,775,416.23 August-2008 340,878.15
December-2004 3,390,672.37 September-2008 340,878.15
January-2005 3,247,007.49 October-2008 340,878.15
February-2005 3,081,423.83 November-2008 340,878.15
March-2005 2,912,559.69 December-2008 340,878.15
April-2005 2,629,099.85 January-2009 340,878.15
May-2005 2,173,396.78 February-2009 340,878.15
June-2005 1,701,884.49 March-2009 340,878.15
July-2005 1,262,345.02 April-2009 340,878.15
August-2005 826,088.29 May-2009 340,878.15
September-2005 669,515.59 June-2009 340,878.15
October-2005 623,201.61 July-2009 340,878.15
November-2005 599,827.54 August-2009 340,878.15
December-2005 590,033.45 September-2009 340,878.15
January-2006 587,833.58 October-2009 331,539.45
February-2006 556,757.98 November-2009 305,876.67
March-2006 554,242.73 December-2009 301,588.79
April-2006 552,203.16 January-2010 301,588.79
May-2006 536,327.13 February-2010 301,588.79
June-2006 540,393.50 March-2010 361,250.22
July-2006 523,285.62 April-2010 267,312.78
August-2006 517,735.90 May-2010 190,861.32
September-2006 502,913.16 June-2010 209,515.42
October-2006 496,685.70 July-2010 71,862.37
November-2006 470,968.52 August-2010 14,514.11
December-2006 449,377.01 September-2010 14,514.11
January-2007 449,377.01 October-2010 14,514.11
February-2007 449,377.01 November-2010 14,514.11
March-2007 442,614.85 December-2010 14,514.11